All Forum Posts by: Juan A. Ortiz

Hey everyone!

My wife and I are looking to purchase our first MFH (Duplex or 4-Plex) in the next couple of months. We currently live in the Plano/Frisco area.

It's definitely a hot market and homes are selling like crazy...

Is anyone or do you know of anyone looking to sell their MFH, either completely vacant or half vacant (to live in one unit & rent out other unit)?

If so, I am definitely interested in taking a look.

Please let me know. Look forward to hearing from everyone!

Best,

Johnny Ortiz

Hello,

I've been doing a little research on a handful of lenders for specifically an FHA Loan. I currently live in Dallas (Plano area) and looking for a solid lender to purchase my first SFH in NE Dallas.

What are your thoughts on RBFCU and PennyMac? Please feel free to propose others. I’m definitely looking.

Thanks for your help!

@Richard Helppie-Schmieder

Hey Richard, Thank you for the insight!

Absolutely! Would love to chat. I'll PM here in a bit.

@Ola Dantis

Perfect!

I will definitely do my research.

Thank you for the info!

@Onan Dumas

Thanks, Onan. That’s great advise!

I definitely don’t mind putting in a bit of sweat equity into a duplex. Looks like the key is to find a duplex in a decent neighborhood. Definitely agree with you about duplexes being much more expensive. I’ll keep my eye out for those deals.

If my wife and I plan on going that route, we'd purchase with an 30yr fixed rate FHA loan.

We are new to the Dallas area and do not have any family or friends here. I know there are a lot of variables in the mix but getting a tenant in the other side would be the main focus.

@William Moya

Hey William,

Really appreciate the input!

I can imagine! Lol

Yeah, a duplex just makes a lot of sense (for the right deal of course) being that I could potential cash flow and build equity in the home.

@Onan Dumas

Hey Onan,

You make a lot of valid points!

The market is a little out of wack right now. I would need to find a really nice deal to go with a duplex. I definitely see how I could benefit from a duplex much more than a SFH; but it would need to be the right price.

I’m definitely keeping aware of the area and neighborhoods.

If I can find a solid deal with a duplex, I’m going to take it. Keeping both options open.

Would you say that now is a good time to find a MFH, considering low interest rates, etc?

@Jeffery Callis

Hey Jeffery,

I think both duplex and SFHs will appreciate over time; but from my understanding, a SFH might appreciate much more and more quickly than a MFH.

At the same time, if I were to go with a duplex I could potentially reap the benefits of lower mortgage payment, cash flow, and equity in the long run.

Thanks for the advise👍🏽

@Ola Dantis

Hey Ola,

That’s great insight!

It’s definitely sounds best to take advantage of House Hacking while we are still young and with no kids.

I am working with a realtor right now and we are keeping our options open for both Duplex and SFH.

I know I can advertise myself; but what else should I take advantage of when getting tenants into the other side of the duplex?

Who else should I work with?